The worst since 1999 ... a technical defect that suspends the trading of the third largest global exchange
The Tokyo Stock Exchange suspended stock trading for a full day today, as a technical malfunction in the electronic trading system caused the worst service outage experienced by the world's third largest stock market ever.
The service shutdown has frustrated investors seeking to buy shares after the first presidential debate in the United States, and could tarnish the credibility of the exchange as the new prime minister, Yoshihide Suga, places digital transformation as a top priority.
It also comes at a time when Tokyo hopes to attract more banks and fund managers from Hong Kong, in light of corporate concerns about a new security law imposed by China.
The Stock Exchange blamed the service shutdown on a problem with the hardware of its "Arrowhead" trading system, and a subsequent failure to switch to a backup device.
This is the first full day that the exchange's activity has been suspended since the start of fully electronic trading in 1999.
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